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RESOLUTION NO. 2013- 082 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA AUTHORIZING THE REDEMPTION AND PAYMENT OF A PORTION OF THE COUNTY'S OUTSTANDING SPRING TRAINING FACILITY REVENUE BONDS, SERIES 2001; AUTHORIZING THE USE OF GENERAL FUND RESERVES IN THE AMOUNT OF $2,275,000 TO PAY DOWN THIS DEBT; AUTHORIZING THE PROPER OFFICERS OF THE COUNTY TO DO ALL ACTS NECESSARY AND PROPER FOR CARRYING OUT THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Board of County Commissioners of Indian River County, Florida (the "County") has determined that it is in the County's best interest to redeem and pay off a portion of the County's outstanding Spring Training Facility Revenue Bonds, Series 2001 (the "Series 2001 Bonds") maturing on or before April 1, 2021 from available moneys of the County; and WHEREAS, the County issued its Series 2001 Bonds pursuant to Resolution No. 2001-072 adopted by the County on August 7, 2001, as supplemented from time to time, and as particularly supplemented by Resolution No. 2001-073 adopted by the County on August 71 2001 (collectively, the "Bond Resolution"); and WHEREAS, the County desires to optionally redeem $2,275,000 in principal amount of the outstanding Series 2001 Bonds on their first optional redemption date for which proper notice may be given; and WHEREAS, the County has legally available cash on hand to redeem the Series 2001 Bonds. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA: SECTION 1. FINDINGS OF FACT. The County hereby finds, determines and declares the matters hereinabove set forth. SECTION 2. AUTHORITY FOR THIS RESOLUTION. This resolution is adopted pursuant to Chapter 125, Florida Statutes, the Bond Resolution, and other applicable provisions of law. SECTION 3. AUTHORIZATION TO DEFEASE A PORTION OF THE SERIES 2001 BONDS. The redemption of $2,275,000 of outstanding Series 2001 Bonds which mature on or before April 1, 2021 on or before October 1, 2013 at a redemption price equal to the principal amount to be redeemed plus interest accrued to the redemption date is hereby authorized. The County Administrator is hereby directed and authorized to direct the Paying Agent for the Series 2001 Bonds to give notice of the redemption of the Series 2001 Bonds to DTC and the bondholders of such redemption and to select the maturities of the Series 2001 Bonds to be redeemed. 1